Royal Caribbean price target raised to $172 from $161 at Argus

Argus raised the firm’s price target on Royal Caribbean to $172 from $161 and keeps a Buy rating on the shares. The company’s high cruise occupancy of 107% in Q1 points to a demand recovery and is likely to result in stronger-than-anticipated revenue and earnings, the analyst tells investors in a research note. Argus adds that its is positive on the name as it looks for Royal Caribbean margins to strengthen and also expects it to launch new ships over the next 12 months.